Here's why Tesla stock is crashing today

Core Insights - Tesla's second-quarter earnings report indicates a significant decline in performance and global market share, with automotive revenue dropping to $16.7 billion from $19.9 billion year-over-year [1] - Regulatory credit sales fell by over 50% to $439 million, contributing to a nearly 8% drop in Tesla's stock price [1] - The company delivered 384,000 vehicles in the quarter, reflecting a 14% year-over-year decline, highlighting a slowdown in demand for Tesla's electric vehicles [3] Financial Performance - Automotive revenue for the second quarter was $16.7 billion, down from $19.9 billion in the same quarter last year [1] - Regulatory credit sales decreased to $439 million, a decline of more than 50% [1] Market Share and Demand - Tesla's market share in the EU, UK, and EFTA countries fell to 2.8% in June, down from 3.4% a year earlier [4] - New car registrations for Tesla dropped by 22.9% year-over-year in June, marking the sixth consecutive monthly decline in market share in Europe [4] Future Outlook - CEO Elon Musk indicated that "a few rough quarters" could be expected due to the phaseout of U.S. federal EV tax credits [5] - Wall Street predictions for Tesla's stock over the next 12 months range from as low as $19.05 to as high as $500 [6]